You head that right! Bitcoin SV just recorded its largest block in history! A whopping 2 GB is racked onto the blockchain, proving that Bitcoin SV scales exactly as Satoshi (Craig S. Wright) envisioned very early in its development.
The world stood by as Satoshi's vision laid out in the original white paper, scaled exactly as expected. Many miners began redirecting HashPower upon the announcement that mining BSV is 2X more profitable compared to the proclaimed "real" version BTC, created and funded by BlockStream.
In early days, Satoshi wrote about how the block reward was in place as a subsidy for miners validating the network, and if the experiment proved viable, in 10-20 years, transaction fees, managed in micro payment sizes, will fill block rewards larger than the posted subsidy for miners to generate income indefinitely, even after the subsidy is diminished. The block reward in bitcoin, is designed cut the reward in half every 4 years to compensate for the network scaling which should begin occurring with transactions as time progresses. That is the purpose of the block reward for miners and was described within the bitcoin white paper and on message boards by Satoshi. The block reward was designed to be larger at first, as lower amounts of transactions would occur.
One thing we notice with BTC, is when the halving nears or occurs, the community doesn't recognize why this halving is actually occurring, and rather sees it as a market signal that the price will begin to "pump" upward in the following weeks. There is no reason behind this belief, aside from "Bitcoin is becoming more scarce" as they claim, due to less being produced. However, everyone knows that a currency regularly being transacted, shouldn't become scarce. It can't be a currency if no one can access it. it just becomes an inflating asset, similar to what BlockStream wants you to believe Bitcoin is - digital gold.. it isn't. We can hope and visualize that in the future, after the next halving occurs on Bitcoin, that the transaction fees will generate even larger block rewards for miners, though we doubt to see that occur on BTC,
The scaling performed by BitCoin SV demonstrates exactly what Satoshi envisioned for his protocol way back in 2008-2010. Nearly 12 years later, it is beautiful to see the vision play true. With a scaling block size cap based on transactional flow, Bitcoin indeed scales to handle large amounts of micro payments with extremely low transactional fees, and while grouped together, still amount to a plentiful block reward for the miners validating the network.
When we examine the records of the cloned BTC chain that proclaims to be the real BitCoin (we know it's not), we see nothing anywhere near as possible as what Bitcoin SV is handling. BTC, though priced well over 40,000$ per coin and processing extremely high transaction fees above $5 per transaction, is barely managing to produce close to 0.02 BTC in transaction fees for miners of the block, though the fees are 100x higher on BTC than BSV in dollar value.. weird isn't it. Also note that BTC blocks only hold about 1,386 transactions. The recent BSV block validated held over 5800 transactions. It's clear to see what the market values as the honest valid chain, as more developer begin migrating to the Bitcoin SV blockchain. More and more developers and enthusiasts see a stronger value in accumulating a fast, government friendly, transparent and honest , and real bitcoin protocol that is currently value below $500. Remember, bitcoin should only be worth the value of the services run on it and the users transacting with it. It's value should be derived from the value on it and managed by it. By these highly respected investing analysis methods, many investors do see BTC price to be hyper-inflated and a risky asset to participate in. But with a total supply around 18,000,000 coins, and loads of valuable communities actually built upon of Bitcoin SV, processing real transactons daily by the users, its curernt price valuation actually seems in check with the market value. There are no services built onto of BTC - just remember that. None can be built ontop of BTC due to drastic changes imposed by blockstream funded developers, which cannot be reserved safely on the network.. - Nothing in this article should be taken as investment advice but merely educational content that you may utilize within executing your own due diligence and research.
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